Observational analysis shows significant impacts of financial inclusion on economic growth in Nigeria, highlighting the need for improved banking access.
Key Points
Fintech-driven financial inclusion boosts economic growth, with notable effects observed in the short run.
Real GDP per capita increased significantly due to enhanced access to banking services and private sector credit.
Analysis employed an Autoregressive Distributed Lag method to assess quarterly data from 2011 to 2023.
Recommendations include improved banking reach in rural areas and measures to address inflation for sustained growth.